Shares of Moderna tumbled Monday after the vaccine maker predicted a steeper-than-expected sales drop in the new year
ByThe Associated Press
January 13, 2025, 9: 18 AM
Shares of Moderna tumbled in early trading Monday after the vaccine maker predicted a steeper-than-expected sales drop in the new year.
Moderna said it expects 2025 revenue to range between $1.5 billion and $2.5 billion after hitting as much as $3.1 billion last year.
Analysts expect, on average, $2.92 billion in revenue for 2025, according to FactSet.
The company also said it was speeding up and expanding a cost-cutting plan. It expects to cut cash costs by $1 billion in the new year, w